Regulation

Company policies were not reasonably designed to detect and prevent misconduct, the SEC claims after one advisor allegedly misappropriated more than $5 million from client accounts.

DaRayl Davis spent client funds on a luxury mansion, theater tickets and car rentals, federal prosecutors say.

The new wave of advertising will highlight the emotional benefits of having a financial plan. Some CFPs have grumbled about funding previous advertising initiatives with their certificant fees.

The funds, which account for roughly 1% of the $3.5 trillion of assets in ETPs, “pose real risks to American families.”

Creation of the blue-ribbon body draws praise and confusion from CFPs who question its utility.

If approved, the funds will exclude investments in alcohol, tobacco, weapons, fossil fuels and nuclear power.

The framework targets so-called plain vanilla funds, yet leaves in place a more laborious path for firms wishing to list complex products.

Six fiduciary groups call on advisors press SEC to clarify the differences between advisory and brokerage business models.

Former San Diego Chargers guard Kris Dielman says the independent broker dealer failed to supervise his former advisor.

A FINRA arbitration claim followed an asset freeze and the launch of a federal investigation into the fired advisor’s RIA.